Royalty Summary

Orogen holds a 1.5% NSR with no buydown on the Sarape project owned and operated by Advance Lithium Corp: https://advancelithiumcorp.com/sarape-project/

Project Overview and History

The Sarape Project is a 57 square-kilometre land package in Sonora Mexico. The project covers multiple quartz-carbonate veins developed on the margins of a horst. The Sarape vein, which varies in width from 3 to 12 metres, has been mapped and sampled over a strike length of five kilometres. The Chiltepin vein, which averages 3 metres in width on surface, has been traced over a strike length of 2.5 kilometres. Both veins display high-level epithermal features and elevated gold-silver values. Sarape was identified through Orogen’s generative program in the Rio Sonora valley in early 2017 following the discovery of a high-grade gold-silver ore shoot on the Ermitaño vein.

Coeur Mining completed a drill program in 2019 to test a range of elevations over 380 metres of strike length on the Sarape Vein. In 2021, Hochschild Mining PLC completed an eight-hole drill program on over two kilometres of the Sarape vein. Drill results outlined a zone of brecciation and tan-green quartz development with subeconomic gold-silver values at approximately 150-200 metres below surface. More than 3 kilometres of the Sarape vein and over 2 kilometres of the Chiltepin vein remain untested by drilling.

Transaction Summary

In June 2022, Orogen sold the Sarape project to Advance Lithium Corp as part of a deal to purchase a three-royalty package in Western Kenya. Orogen retained a 1.5% NSR on the Sarape project.

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